"Gina Rinehart's most trusted lieutenant expects the price of iron ore will recover to $US80 a tonne despite surging supply and has flagged that the $US10 billion ($13.7 billion) Roy Hill project will start shipping ore in early October, later than scheduled."
Of course he is, needs to attract as many investors and customers as possible while continuing to collect his exorbitant salary for as long as possible.
Wouldn't be at all surprised to see FMG go sub $1 if China's bubble of a stock market pops completely and there a significant knock on effect directly to the economy.
Looks as if the industry hasn't learnt from past mistakes of the boom/bust cycle.
Kat.
Iron Ore Price, page-796
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Last
$21.64 |
Change
-0.220(1.01%) |
Mkt cap ! $66.59B | |||
| Open | High | Low | Value | Volume |
| $21.71 | $21.80 | $21.53 | $43.20M | 1.994M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 37 | 6814 | $21.63 |
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| Price($) | Vol. | No. |
|---|---|---|
| $21.64 | 3419 | 18 |
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| FMG (ASX) Chart |